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New cabinet not aiming to redistribute wealth, says finance minister

Tuesday 20 November 2012

Redistributing wealth is not the main aim of the new government, finance minister Jeroen Dijsselbloem told the upper house of parliament on Tuesday afternoon.

'What is imperative is that the enormous bill for the crisis is divided in a socially justiified way, and this should have a progressive tint,' he said.

The minister was speaking during the senate debate on the financial implications of the coalition agreement.

Cuts

He refuted the charge that the government is making damaging cuts by making savings of an extra €16bn in this cabinet period. He said the savings will lead to fewer jobs and lower economic growth, but said the difference will be small. 'We are doing it carefully.'

He also said the cabinet will look for more cuts if the budget deficit again rises above the EU norm of 3%.

Dijsselbloem's comments contradict those of Labour party chairman Henk Spekman who told the party congress last month 'redistributing wealth should be celebrated'.

Is Dijsselbloem right? Let us know using the comment box below.

Reducing income gap is as reasonable desire, says prime minister
Equalising income should be celebrated

© DutchNews.nl



 

Readers' Comments

Why not?

By Lewis | 20 November 2012 4:39 PM

Dear Sheeple, 'The International Monetary Fund' recently said European banks may need to sell as much as US$4.5 trillion in assets through 2013 if policy makers fall short of pledges to stem the fiscal crisis, up 18% from its April estimate. And, the newly enlightened, hallucinogenic, finance minister Jeroen Dijsselbloem says, 'What is imperative is that the enormous bill for the crisis is divided in a socially justified way, and this should have a progressive tint? The good citizens are not responsible for this white collar crime? austerity, leading to poverty is NOT Justified at all! I hope and pray that people will not accept this servitude.
http://business.financialpost.com/2012/10/10/european-banks-facing-us4-5-trillion-sell-off-imf/

By Highlander | 20 November 2012 4:42 PM

It seems most Dutchies want to follow the destructive path they've led the Occupier of the US White House to believe accelerates financial woes. By all means, let's all hang together on this economically fatal journey!

By Drawer 22 | 20 November 2012 5:05 PM

Hi,
New cabinet not aiming to redistribute wealth, says finance minister. This is not quite true. I’ve just heard from Brussels (Friday 20.11.2012 1800 Uhr) another £35 billion for Greece. It seems they wish to redistribute wealth to Greece?

By Terence Hale | 20 November 2012 7:19 PM

How is wealth created? Through the ingenuity and hard work, of course. To encourage ingenuity and hard work, state should tax wealth destruction activity only. If state over taxes wealth generators, country will go poor sooner or later.

By Sekar Swaminathan | 20 November 2012 7:53 PM

Oh, DO show us the proof, Sekar!!

By CW | 20 November 2012 8:22 PM

Finally some good old common sense, sekar! And no, i do not think the cost of this crisis should be distributed in any way. If i crash my car i do not ask my neghbor to fix it, thus if the bankers have made mistakes, they pay. We can still nationalize and merge or restructure all the failed banks and renegotiate passivities with private funds and megainvestors, to the advantage of the population, the real wealth makers

By Andrea | 21 November 2012 6:51 AM

@Terrence: Those 35 billions are loans not redistribution. When you get a haircut on your holdings then you can moan about your money. So far Germany, the Netherlands and the others are GAINING INTEREST. Please don't try to put that new PVV europe is bad spin on everything

By Neo | 21 November 2012 10:00 AM

A socially justifiable solution would be to see these schmucks swinging from a bridge.

By Dr Ponzi | 21 November 2012 10:03 AM

Not aiming and not doing is two different things. Only time can tell if the policies are sound or not. But the rich always get richer in any society and they are usually not the most hardworking ones anyway.

By ufo | 21 November 2012 10:04 AM

Austerity, punishing the poor for the crimes of the rich.

By @CluthaDubh | 21 November 2012 11:06 AM

Sekar, sorry my friend but very much wealth is generated through unethical practices, cheating and fraud. This is front page news every single day. You paint such a rosy pretty picture of the greedy and wealthy. Perhaps a reality check is needed? This is NOT a black and white issue in any way.
I think not focusing on wealth re-distribution now will cause much much bigger problems later. Poorer people vote too, and will continue voting - remember that.

By Z | 21 November 2012 11:35 AM

I think it's time that there were some peaceful demonstrations held in The Hague to show the government that they are on the totally wrong track! What is up with the Dutch that they let this happen to their country without making a stand?

By Maria | 21 November 2012 11:47 AM

@Maria

You will not see dissent any time soon with the Dutch electorate, at least not until the housing market crashes and burns. A colleague of mine is chasing work at present and informed me that, out of the ten appointments he canvassed his c.v. for, there were 300 applications for each available job. When the house repossessions start over the next 2yrs and unemployment increases, you may only then hear voices of dissent. The Dutch are a complacent bunch? By the way, the unemployment levels currently publicised by the government, I doubt very much if they are transparently correct.

By Highlander | 22 November 2012 9:48 AM

@Highlander: I'm impressed by your solid grasp of statistics. Are we supposed to take as fact everything you friend tells you?

By Neo | 22 November 2012 10:27 AM

Wealth is not created by trading money. Wealth is created by manufacturing of physical goods or providing services (work). Money is a direct representation of the physical products available in society and a way of comparing the value of different products.

Saying you make money with money as a form of wealth generation is the economic equivalent of a perpetual motion machine. At some point it collapses.

Unfortunately, society rewards not those that produce, but the middle men between the consumers and producers. And there's no greater bunch of no-added value middle men than the bankers.

By H. | 22 November 2012 3:58 PM

@Neo

You do know we will never see even half of that loan back anymore, right? Greece is a black hole. That's the reason they continuously need more.

And even if things finally go right, it will not go good enough to have money to spare to pay back the loan (OK, perhaps in 100-200 years, but the current population will never see that anymore).

Also, Greece can hardly make cuts, because the slighest cuts makes the Greece population strike already, and strikes causes their economy to worsen again.

And the cuts we have to take to be able to hand over that loan damages us more than the loan will potentially earn us.

By Someone | 23 November 2012 1:52 AM

@Highlander: as someone with many professional colleagues working for CBS, which is recognized as one of the best national statistics bureaus in the World, I dare you to give some source or elaborate on your accusation of manipulation of unemployment rate and other statistics. It appears it is the game of the day: people don't like the number, they just say they are wrong without any proof or argument. Just because they feel it.

By Andre L. | 23 November 2012 6:20 AM

@Andre L.

How accurate are the unemployment figures do they include those who have exhausted their benefits too?

@neo

Nip down to your local Uitzendbureau in the Randstad and ask them how many c.v.'s they get for financial administration, or general administration posts for instance. I think that I will stand corrected. Its quite obvious that you are in employment at present.

By Highlander | 23 November 2012 1:56 PM

@ Maria - the Dutch do not 'make a stand' since the 90's when shopping and consuming became more important here than taking a stand for their rights. They do LOVE to complain and 'discuss' their opinions amongst each other for hours, but very very rarely actually take any action.

By B | 23 November 2012 4:22 PM

@Highlander: Then you already do stand corrected as there is definitely an issue there. You should have mentioned the sector you were refering to. However, the problem imo is not the only the economy per se. The financial and administration courses are absolutely packed with students. Don't know why everybody is going crazy for those courses.

By Neo | 23 November 2012 5:20 PM

Andre, you know yourself that the so-called unemployment figures in Canada are merely the numbers of those who are on EI. And you also know how they have tightened the rules in the last 20 years so fewer and fewer unemployed qualify for it.

I'm quite sure that isn't just a Canada thing...

By CW | 23 November 2012 7:48 PM

Unemployed is NOT measured as "number of people getting unemployment benefits" in any serious country. Unemployment is measured as people who, during a set of time (usually 2 weeks): didn't have work; looked for work; couldn't find any work.

By Andre L. | 24 November 2012 8:32 AM

 
 
 
 
 
 
 
 
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